February 15, 2023
Nigeria: Govt Okays Electronic Cargo Tracking System to Curb Crude Oil Theft
The Federal Executive Council (FEC) at its weekly meeting on Wednesday approved electronic cargo tracking device that will monitor all vessels entering and leaving Nigeria's water… Read more »
Nigeria: OPEC Confirms Nigeria's Oil Output Grew By Just 23,000 Bpd in Jan
-Oil prices fall after US crude reserve release Read more »
February 09, 2023
Nigeria: Ways and Means - IMF Urges CBN to Stop Full Financing of Govt's Fiscal Deficits
The International Monetary Fund (IMF) has urged the Central Bank of Nigeria (CBN) to go beyond recent increases in the policy rate to implement additional actions, including fully… Read more »
Nigeria: Govt Blames Profiteers for Hike in Fuel Price
The federal government yesterday formally reacted to the increase in the price of petroleum products across the country and heaped the blame on the rush by petroleum marketers to… Read more »
Nigeria: Fuel Smuggling Won't Stop Until Nigeria Deals With Arbitrage - Kyari
Group Executive Officer of the Nigerian National Petroleum Company (NNPC) Limited, Mallam Mele Kyari, on Tuesday maintained that the massive smuggling of petrol outside Nigeria's… Read more »
February 07, 2023
Nigeria: House Moves to Unravel Alleged 48m Barrels of Crude Oil Theft
Udora Orizu writes that members of the House of Representatives are putting relevant stakeholders on their toes, as they commence investigation into whistle-blower's allegation of… Read more »
Nigeria: Expected Nigeria's Oil Production Rebound Falters As OPEC Output Falls in January
Nigeria's oil production which began rebounding in November and December last year after a prolonged lull, stayed stagnant in January this year, a Reuters survey of activities in… Read more »
Nigeria: Outlook for Nigeria's Upstream Oil, Gas Sector Positive for 2023 - Report
Nigeria's oil and gas industry experienced historic crises throughout 2022 as the sector struggled with severe crude thefts and pipeline vandalism constraining output, but will do… Read more »
February 06, 2023
Nigeria: Niger Delta Elders Write Monguno Over Govt's Panel On Oil Theft
* Say Nigeria loses $1.9bn monthly Read more »
February 03, 2023
Nigeria: NNPC - Lingering Fuel Scarcity Not Deliberate Attempt to Influence, Scuttle Elections
*Kyari insists there's no fuel shortage, only distribution issues Read more »
Nigeria: Govt, Daewoo Sign Deal for Maintenance of Kaduna Refinery for $740million
*NNPC says Port Harcourt refinery 64% completed Read more »
Nigeria: Thousands of Nigerians Join Landmark Lawsuit Against Shell in UK
More than 13,500 Nigerians joined their communities in a lawsuit against Shell Plc before a landmark UK trial that could have far-reaching implications for parent-company… Read more »
January 31, 2023
Nigeria: Niger Decries Fuel Scarcity, Vows to Sanction Hoarders
The Niger State Government on Tuesday decried the fuel scarcity in Minna, adding that its attendant high prices is artificial and has therefore vowed to sanction hoarders of the… Read more »
Nigeria: Salami - to Boost Revenue, Govt Should Explore IJVs in Upstream Oil Subsector
Partner and Head, Energy and Natural Resources, KPMG Professional Services, Mr. Ayo Salami, harps on the need for the federal government to explore the option of Incorporated Joint… Read more »
January 30, 2023
Nigeria: NUPRC Moves to End Inaccurate Accounting for Nigeria's Oil, Gas Production
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has ended a two-day workshop in Abuja on production determination, accounting and reconciliation for crude oil,… Read more »
January 29, 2023
Nigeria: Youths Protest Fuel Scarcity, Hike in Price, Demand Suspension of 2023 Polls
Nigerian Youth Congress for Peace and Development (NYCPD) on Sunday protested the persistent fuel scarcity across the country and the unbearable hike in price by the few… Read more »
January 26, 2023
Nigeria: Petrol Scarcity, Naira Redesign Ploy to Sabotage My Victory in the Election - Tinubu
A new twist was yesterday added to the current fuel scarcity in the country and the decision of the Central Bank of Nigeria (CBN) to redesign the N200, N500 and 1,000 banknotes, as… Read more »
January 25, 2023
Nigeria: Govt Moves to End Nationwide Fuel Scarcity, Sets Up 14-Man Steering Committee
-Sylva directs marketers to stick to approved petrol prices Read more »
January 24, 2023
Nigeria: Board Chair - NNPC Fails to Stop Ararume's N100bn Case Against Unlawful Removal
The Nigeria National Petroleum Company Limited (NNPCL) yesterday failed to halt hearing in a N100 billion suit instituted against President Muhammadu Buhari over the alleged… Read more »
January 17, 2023
Nigeria: Seven Deep Offshore Mini-Bid Winners to Be Announced in Next Four Months - NUPRC
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) yesterday announced that in the next four months, winners of the mini-bid for deep offshore licensing round would be… Read more »
Nigeria: Nigeria's Projected Crude Oil Production Short By 283m Barrels, $24.5bn Revenue in 2022
Nigeria's crude oil production when put side by side its expected output of 1.88 million barrels per day in 2022, was short by a whopping 283 million barrels, amounting to roughly… Read more »
January 16, 2023
Africa: Kyari Foresees Sustained Rise in Oil Demand With Economic Growth in Africa, Reopening in China
*Says Nigeria planning output hike to feed revamped refineries Read more »
January 15, 2023
Nigeria: Oil Theft - Investigative Panel Vows to Expose Perpetrators
The Chairman of the Special Investigative Panel on Crude Oil Theft/Losses, Maj Gen Barry Ndiomu (rtd), has said that the panel will not be afraid to identify and expose those… Read more »
December 29, 2022
Nigeria: Inflation, Low Oil Production Bane of Nigeria's Economy in 2022
Ugo Aliogo examines the effect of inflation and low oil production on the Nigerian economy, among other developmental issues that shaped the year 2022 Read more »
December 28, 2022
Nigeria: Return of Chinese, India's Appetite for Nigerian Crude Key to Oil Price Stability in 2023 - Report
The return of Chinese and Indian appetite for Nigeria's and other West African countries' crude oil grades could to some extent play a critical role in determining the price of the… Read more »